The Financial Conduct Authority (FCA) has charged Ian Hudson with fraudulent trading and carrying out regulated activities without authorisation.

Mr Hudson appeared at Westminster Magistrates’ Court in relation to three charges: carrying on a business (Richmond Associates) with the intention to defraud creditors, carrying on regulated activities (advising on investments), and accepting deposits without authorisation.

According to the regulator, Mr Hudson advised on investments and purported to invest deposits received by him from clients on their behalf between 1 January 2008 and 31 July 2019.

He was not authorised by the FCA during this period.

The regulator said Mr Hudson also told clients that the money deposited with Richmond Associates would be invested in various financial vehicles or otherwise but to specific uses, but this was not always the case.

The FCA commenced criminal proceedings against Ian James Hudson following an investigation into his activities by the regulator.

Mr Hudson will appear at Southwark Crown Court for a Plea and Trial Preparation Hearing on 17 June.